Vietnamese stocks continued to slide on August 29 in contrast with widespread rebounds on other Asian stock markets.
On the HCM City Stock Exchange, the VN-Index gave up another 1 percent to close August 29’s session at 468.55 points.
Slumps of blue chips again weighed on the market as 22 of the top 30 shares lost ground while only five advanced.
Heavyweight shares such as Vietcombank (VCB), insurer Bao Viet
Holdings (BVH) and real estate VinGroup (VIC) were sold heavily.
VCB was the biggest loser with a 5.3 percent decrease. BVH tumbled 4.5 percent while VIC fell 3.1 percent.
Others including Vinamilk (VNM), Hoang Anh Gia Lai Corp (HAG), Kinh
Bac City Development (KBC) and Gemadept (GMD) also closed lower.
The VN30 was thus down 0.97 percent at 523.51 points.
Mounting caution made investors retreat as both market volume and
value declined around 40 percent from August 28’s levels, totalling
nearly 40 million shares worth 825 billion VND (39.3 million USD).
Tan Tao Investment Industry Corp (ITA) concluded the day as the most
active stock with 3.2 million shares changing hands, but edged 1.8
percent down at 5,400 VND a share.
The foreign sectors
were responsible for a net sell of nearly 199 billion VND (9.5 million
USD) worth of shares on the southern market on August 29.
On the Hanoi Stock Exchange, the HNX-Index also lost 0.53 percent to finish at 60.36 points.
Trading was sluggish with 13.6 million shares worth 110 billion VND
(5.2 million USD), down 40 percent in volume and 50 percent in value
compared with the previous session.
Sai Gon-Hanoi Bank
(SHB) was again the most active stock on trades of 1.6 million shares,
closing down 1.6 percent to end at 6,300 VND each.
Kim Long Securities (KLS) came second in liquidity with 1.4 million shares changing hands at 8,300 VND a share.
Foreign investors were also net sellers on the Hanoi bourse, unloading shares worth 16.34 billion VND (778,000 USD).-VNA